Brisbane's most popular suburbs too expensive? Try the 10 hidden gem suburbs
Brisbane’s popular suburb of Carindale is out of reach for many buyers but buying a house in Tingalpa, just seven kilometres away, is 33% cheaper, according to Westpac.
Westpac has compiled a list of ten Brisbane suburbs where it’s cheaper to buy than in their more popular neighbouring suburbs.
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The hidden gem suburbs are close to the popular suburb but have a lower cost median house or unit price. The most popular suburbs were determined by the most searched for suburbs on realestate.com.au.
“Buyers who want to truly own their home sooner can find real value by simply considering a suburb which is just a stone’s throw away from their first preference,” says Westpac’s Gai McGrath.
With a median house price of $1.02 million New Farm is out of reach for many buyers but nearby Kangaroo Point is 38% cheaper. For units Fortitude Valley is a better alternative to New Farm with median prices 16.5% less.
If you wanted to buy a unit in the seventh most popular suburb in Brisbane, Redcliffe, you could consider travelling just four kilometres down the road to Kippa-Ring where the average unit price is 21% cheaper.
You could own your home 13 years and one month sooner and save $66,436 in purchase price and $91,535 in interest repayments over time, according to Westpac.
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Image courtsey of Bert Knot/ flickr.